In the previous Technical update on Sanghvi Movers and Sintex Industries, both stocks were recovering after long corrective moves.The technical structure of the charts haven't changed much. Both stocks are once again in recovery mode after strong bear attacks.However, in the intervening period, both stocks rose to touch new highs, and are trading at much higher levels than three years ago after re-entering Bull territories.Sanghvi Movers

After closing at a high of 396.70 in Aug '15, the stock corrected all the way down to 197.70 in Dec '16 - a huge 50% correction from its top.It has since managed to rally above its three EMAs into bull territory, but remains below the blue down trend line and the 'support-resistance' level of 282.The 'golden cross' of the 50 day EM above the 200 day EMA that technically confirms a return to a bull market is still awaited.Daily technical indicators are correcting overbought conditions. A pullback towards the 200 day EMA is likely. That will be a good buying opportunity.

Sintex Ind

The stock also corrected nearly 50% from its top of 132.20 touched in Mar '15, but is back in bull territory above its three EMAs after forming multiple bottoms around 70-72. The 'golden cross' (marked by light blue oval) of the 50 day EMA above the 200 day EMA has technically confirmed a return to a bull market.Daily technical indicators have corrected overbought conditions and showing downward momentum. MACD has formed a 'rounding top' reversal pattern in bullish zone. ROC, RSI and Slow stochastic have slipped into bearish zones.The stock is seeking support from its 20 day EMA, but may correct down to 104. That will provide an entry opportunity.